SushiSwap’s Jared Grey Unveils “10x Market Share” Plan

Head Chef Jared Grey outlines his plan to revitalize the SushiSwap exchange for a brighter 2023.

On a pink background, SushiSwap CEO Jared Grey stands in a chef's uniform with wasabi for hair. From his back come four arms holding chopsticks and different sushi rolls.
  • SushiSwap’s Head Chef announces ambitious goals for 2023, including becoming a market-leading platform with user-centric features.
  • The platform plans to release its DEX aggregation router in Q1 2023 to increase swap volumes and fees and improve the overall user experience.
  • SushiSwap aims to focus on scalability and sustainability to “reinvent” the platform’s future.

SushiSwap, a decentralized exchange (DEX), announced its goals for 2023 on January 16th, 2023, via Head Chef Jared Grey’s Medium.

SushiSwap’s new initiatives for “revitalizing SushiSwap” will focus on scalability and sustainability. Grey’s announcement further stated: “by executing our vision, we intend to 10x our market share in 2023.”

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The platform’s unveiled roadmap for 2023 includes the following elements:

  1. Positioning Sushi as a market-leading, community-centric DEX via “deep liquidity, optimal pricing, sustainable tokenomics,” and a user-friendly platform.
  2. Releasing a DEX aggregation router to increase swap volumes and fees by leveraging SushiSwap’s Trident network and new token model proposal.
  3. Maintaining a decentralized organizational structure to promote product autonomy via best principles like “self-custody, equitable governance, & permissionless trading.”
  4. Implementing newly optimized tokenomics and improving liquidity, sustainability, community ownership, and DAO treasury diversification.
  5. Launching Sushi Studios as a decentralized incubator that will allow independently-funded projects to use the Sushi brand and support ecosystem growth without depleting the DAO treasury.

The platform will promote deep integration with its network partners as part of these efforts. It will offer them equitable inclusion in the SushiSwap DEX to help make it the go-to exchange for new token launches. Grey also states that the platform has taken measures to secure its “runway for multi-year operations.”

Through a Troubled Looking-Glass

The DEX has had a tumultuous history since its launch in September 2020. The platform was initially created as a fork of Uniswap to create a community-driven decentralized exchange.

Since then, the project has struggled to regain its market share in the DEX space and the trust of its community following a series of controversies. These include the sudden departure of the project’s original lead developer, Chef Nomi, after he “removed his liquidity from SUSHI/ETH pool and sold it for 17,971 ETH.”

On the Flipside

  • The platform currently commands only 2% of the Automated Market Maker (AMM) market and 0% of the aggregation market.
  • Achieving a 10x increase in market share in 2023 is ambitious, considering the current competitive market.
  • Considering SushiSwap’s troubled history, the community remains skeptical about the execution of Jared Grey’s “10x” vision.

Why You Should Care

The successful execution of the 2023 roadmap aims to reposition SushiSwap as a force to be reckoned with among decentralized exchanges. Demand for reputable platforms is increasing, which could dramatically alter the current crypto landscape.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Monique Brelage

Monique Brelage is a South African cryptocurrency news reporter at DailyCoin focused on the Cardano (ADA) and Solana (SOL) ecosystems. She aims to convert complex topics into digestible and engaging news pieces for readers of all knowledge levels.   Before her journey with DailyCoin, Monique has immersed herself in the realm of NFTs and Web 3.0 since 2019. Her experience in multiple industries enables her to conduct critical analyses and convert it into her writing. She acknowledges the profound impact decentralization, Web 3.0 technology, and everything beyond will have on the future.   Monique completed a Bachelor of Communication from NWU in 2020. Her background in media studies, creative writing, and philosophy helped shape her method of news curation, thereby ensuring a broader perspective to help readers remain critical of what they see. Monique's articulation, writing quality, and work ethic are professional qualities she takes pride in.   Monique lives on a farm in South Africa with her partner and cat. She works on her NFT and tattoo art in her free time, and enjoys the natural world around her. She likes reading material that broadens her perspective, indie music, and video games to blow off some steam.